Kansas Asset And Debt Attorney Explains What Surplus Mortgage Foreclosure Sale Funds Can Be Spent On
Автор: Robert Titus
Загружено: 2024-02-23
Просмотров: 13
Описание:
www.tituslawkc.com
Titus Law Firm, LLC
7304 W. 130th Street,
Suite 190
Overland Park, Kansas 66213
United States
(913) 243-1426
Surplus funds can help cover some debts or expenses, although this depends on local laws, foreclosure specifics, and creditor priority. First and foremost, auction proceeds always aim to settle the outstanding balance of the primary mortgage debt. After settling the primary debt, any remaining funds might clear secondary liens or other encumbrances. Only after covering all of those can surplus funds be used to cover the former homeowner's debts or expenses, including foreclosure procedure costs, depending on local regulations.
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